In 2012,exports Amounted to About 14 Percent of U.S.GDP

question 36

True/False

In 2012,exports amounted to about 14 percent of U.S.GDP.

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Definitions:

Functional Currency

The main currency used by a business or unit within a company, reflecting the economic environment in which it primarily operates.

Consolidated Balance Sheet

A financial statement that presents the assets, liabilities, and equity of a parent company and its subsidiaries as one entity.

U.S. Dollars

The currency of the United States, used as the standard monetary unit.

Consolidation Worksheet

A financial document used for combining the financial statements of a parent company with its subsidiaries to present as one entity.